'20% annual interest' promotion... USD1 market cap surpasses $3 billion

The market capitalization of the dollar stablecoin USD1 has exceeded $3 billion (about 4.3 trillion won).

World Liberty Financial said on its official X account on the 25th (local time) that "USD1's market cap has surpassed $3 billion" and called it "a meaningful moment for both the WLFI team and the community."

USD1 is a dollar stablecoin issued by World Liberty Financial (WLFI), the cryptocurrency project of U.S. President Donald Trump’s family. According to CoinMarketCap, USD1's market cap was $3.07 billion as of that day, up 5.64% from the previous day.

Behind the surge in USD1's market cap is a promotion by the global cryptocurrency exchange Binance. Binance announced on the previous day (the 24th) that it will run a promotion for the USD1-based financial product 'USD1 Simple Earn Flexible Product' until the end of next month.

Binance explained, "During the promotion period, users who subscribe to the product can receive up to 20% annual percentage rate (APR) benefits, including stepwise bonus APRs in addition to real-time APR rewards."

Specifically, the product's real-time APR rewards are updated on a per-minute basis and credited to Binance users' accounts. The stepwise bonus APR rewards are credited to users' spot accounts on a daily basis.

However, the maximum 20% APR benefit is provided only up to $50,000 of USD1.